Skechers will be acquired by investment firm 3G Capital for $63 per share in cash, a 30% premium on the company’s 15-day volume-weighted average stock price. Shareholders have options that will affect the final purchase price, but the ultimate price tag will range between $9 and $10 billion.
The footwear brand, which generated $8.97 billion in sales during its most recent fiscal year, has been on an expansion path that includes plans to open 180 to 200 stores this year. Skechers opened its 5,000th store in Bogotá, Colombia in February 2024.
However, the uncertainty surrounding sourcing and international trade generated by President Trump’s tariff policies is likely to have a strong impact on apparel and footwear brands like Skechers, which depend on production in China and other Asian countries for their product supply.
Skechers’ Top Execs to Remain Following Acquisition
3G Capital takes an owner-operator approach to its investments, and Skechers will continue to be led by Chairman and CEO Robert Greenberg, President Michael Greenberg and COO David Weinberg following the deal’s closing. The transaction has been unanimously approved by the Skechers board of directors, including an independent committee of independent directors.
Advertisement
“Our success has been due to our commitment to excellence and innovation across the entire Skechers organization, in-demand comfort-focused product offering and loyal partners,” said Robert Greenberg in a statement. “Given [3G Capital]’s remarkable history of facilitating the success of some of the most iconic global consumer businesses, we believe this partnership will support our talented team as they execute their expertise to meet the needs of our consumers and customers while enabling the company’s long-term growth.”
